Bullish start on Nigerian equities market

✔ Fact Checked by TDPel News Desk

By Lola Smith

Published: April 25, 2022 | 9:52 PM GMT

The Nigerian equities market began this week’s trading activities on a positive, building on gains from last week.

Consequently, the benchmark index closed on Monday at 48,543.36 basis points, 0.20% or 83.81 basis stronger than Friday’s close of 48,459.65 basis points, while market capitalization gained ₦45bn or 0.20% to close at ₦26.170trn from ₦26,125trn.

This is due to investors’ buying interests in industrial heavyweights such as DANGOTE CEMENT PLC which increased 0.14% and LAFARGE AFRICA PLC which grew 5.28%.

Also, buying interest in Tier-1 banks, GUARANTY TRUST HOLDING COMPANY PLC which advanced by 1.65%, UNITED BANK FOR AFRICA PLC which upped 1.23%, ZENITH BANK PLC which increased 0.99%, STANBIC IBTC HOLDINGS PLC which gained 6.32%, and FBN HOLDINGS COMPANY PLC which grew 0.42%.

These gains helped to outweigh losses in BUA CEMENT PLC which fell 3.89%, ACCESS HOLDINGS PLC that declined by 1.00% and PRESCO PLC which fell by 2.18%, keeping the market in the green.

A total of 328.39m shares valued at ₦4.04bn that were exchanged in 5,711 deals as ZENITH BANK PLC leads the volume and value charts with 35.84m units traded in deals worth ₦912.15m.

Market breadth closed positive as 43 stocks posted gains while 16 stocks declined.

UPDC REAL ESTATE INVESTMENT TRUST leads the gainers with an upward move from ₦3.50k per share to ₦3.85k per share, gaining 0.35k or 10.00%.

Next is IKEJA HOTELS PLC with a 0.14k or 9.93% increase from ₦1.41k per share to ₦1.55k per share.

Followed by ETERNA PLC which advanced from ₦6.65k per share to ₦7.31k per share, by 0.66k or 9.92%.
On the losing chart is UNITY BANK PLC leading with a fall from a previous selling price of 0.50k per share to 0.47k per share, losing 0.03k or 6.00%.

Following right after is ACADEMY PRESS PLC which fell 0.07k or 5.98% to ₦1.10k per share from ₦1.17k per share.

While JAPAUL GOLD & VENTURES PLC lost 0.02k or 5.88% to close at 0.32k per share from 0.34k per share.Q `

Sectoral performance was broadly positive, as Consumer Goods index gained 2.5%, Oil & Gas index gained 1.4%, Insurance index gained 0.4% and Banking index gained 0.3%.

The Industrial Goods index was the sole loser of the day losing 1.1%.

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About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.